Moors & Cabot Inc. Cuts Stake in PotlatchDeltic Co. (NASDAQ:PCH)

Moors & Cabot Inc. cut its holdings in PotlatchDeltic Co. (NASDAQ:PCH) by 3.1% during the third quarter, Holdings Channel reports. The firm owned 12,779 shares of the real estate investment trust’s stock after selling 410 shares during the quarter. Moors & Cabot Inc.’s holdings in PotlatchDeltic were worth $576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Deprince Race & Zollo Inc. raised its position in shares of PotlatchDeltic by 33.0% during the second quarter. Deprince Race & Zollo Inc. now owns 1,227,361 shares of the real estate investment trust’s stock valued at $48,346,000 after buying an additional 304,352 shares during the last quarter. Janus Henderson Group PLC lifted its stake in PotlatchDeltic by 19.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,316,743 shares of the real estate investment trust’s stock worth $61,913,000 after purchasing an additional 212,121 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in shares of PotlatchDeltic during the 3rd quarter valued at about $7,884,000. Renaissance Technologies LLC grew its position in shares of PotlatchDeltic by 2,054.5% during the second quarter. Renaissance Technologies LLC now owns 102,899 shares of the real estate investment trust’s stock valued at $4,053,000 after purchasing an additional 98,123 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of PotlatchDeltic by 73.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 154,568 shares of the real estate investment trust’s stock worth $6,963,000 after purchasing an additional 65,682 shares during the last quarter. 86.06% of the stock is currently owned by institutional investors.

PotlatchDeltic Trading Up 3.3 %

Shares of PCH opened at $43.09 on Friday. The company’s fifty day simple moving average is $43.23 and its 200-day simple moving average is $42.28. The company has a market cap of $3.39 billion, a P/E ratio of 205.19 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. PotlatchDeltic Co. has a twelve month low of $37.06 and a twelve month high of $50.04.

PotlatchDeltic (NASDAQ:PCH) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.08. PotlatchDeltic had a net margin of 1.56% and a return on equity of 0.78%. The company had revenue of $255.10 million for the quarter, compared to analyst estimates of $241.35 million. During the same period in the prior year, the company posted $0.14 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, analysts expect that PotlatchDeltic Co. will post 0.15 EPS for the current year.

PotlatchDeltic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Friday, September 13th. PotlatchDeltic’s payout ratio is currently 857.14%.

Analysts Set New Price Targets

A number of brokerages recently commented on PCH. StockNews.com raised PotlatchDeltic from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America raised shares of PotlatchDeltic from a “neutral” rating to a “buy” rating and set a $51.00 target price for the company in a report on Thursday, September 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $50.00 price objective on shares of PotlatchDeltic in a research report on Wednesday, October 30th. Finally, Truist Financial boosted their target price on shares of PotlatchDeltic from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.67.

PotlatchDeltic Company Profile

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2.2 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.